Bank of Lithuania swoops on troubled Ukio Bankas


The Bank of Lithuania won praise today for suspending the operations of Ukio Bankas – a small commercial bank with "risky tendencies".

The bank was accused of harmful shareholder actions and non-compliance with its supervision service, and was placed into administration yesterday.

The Bank of Lithuania's inspections of Ukio Bankas revealed numerous indiscretions, including the inappropriate assessment of credit risks, the use of unacceptable accounting methods, and the violation of prudential

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